Cycling to work is a great way to improve your health and wellbeing, as well as reducing the environmental impact of pollution and congestion from cars. Electric bikes are well suited to commuting – they allow you to cycle in your works clothes as you won’t be hot and bothered when you get there!
What are cycle to work schemes?
The schemes are designed to help you save money when buying a new bike or e-bike for commuting to work. They spread the cost of the bike over monthly, tax-free instalments through your employer.
How do they work?
You simply choose the bike and accessories that you want, your employer pays for it and then you pay your employer back, through monthly instalments taken from your payroll. Most schemes don’t have an upper price limit which means that e-bikes are now very much an option.
What about the tax?
Because the monthly payments are taken from your gross salary before any tax is deducted, it means that you will pay less tax and National Insurance every month that you’re paying off the bike. You can save between 25% to 39% of the cost of the bike.
Schemes You Can Use at Sway Cycles
- Green Commute Initiative
- Cyclescheme
- Cycle Solutions
- Vivup
If your employer’s scheme is not listed here, please get in touch on 01590 683796 and we can arrange to bring them onboard.
